Europe: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in Europe

The Europe ethylene glycol market skyrocketed to $X in 2022, picking up by 363% against the previous year. Overall, consumption, however, continues to indicate a noticeable contraction. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Ethylene Glycol Production in Europe

In value terms, ethylene glycol production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2017 with an increase of 15% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ethylene Glycol Exports

Exports in Europe

In 2022, after two years of growth, there was significant decline in overseas shipments of ethylene glycol (ethanediol), when their volume decreased by -37.4% to X tons. In general, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 29% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ethylene glycol exports contracted notably to $X in 2022. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 73%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium represented the major exporting country with an export of around X tons, which resulted at 52% of total exports. Germany (X tons) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (13%) and Russia (11%). Poland (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ethylene glycol exports from Belgium stood at -8.3%. At the same time, Russia (+1.6%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in Europe, with a CAGR of +1.6% from 2012-2022. Poland experienced a relatively flat trend pattern. By contrast, Germany (-2.1%) and the Netherlands (-9.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia and Germany increased by +6.4 and +6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest ethylene glycol supplier in Europe, comprising 51% of total exports. The second position in the ranking was taken by Germany ($X), with a 17% share of total exports. It was followed by the Netherlands, with a 13% share.

In Belgium, ethylene glycol exports plunged by an average annual rate of -10.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-2.7% per year) and the Netherlands (-10.6% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, with an increase of 2.5% against the previous year. In general, the export price, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2021 an increase of 50% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Germany ($X per ton) and the Netherlands ($X per ton), while Russia ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.7%), while the other leaders experienced a decline in the export price figures.

Ethylene Glycol Imports

Imports in Europe

After six years of growth, purchases abroad of ethylene glycol (ethanediol) decreased by -15.5% to X tons in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 11% against the previous year. The volume of import peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, ethylene glycol imports reduced markedly to $X in 2022. Overall, imports recorded a perceptible downturn. The pace of growth appeared the most rapid in 2021 with an increase of 59% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of ethylene glycol imports in 2022 were Germany (X tons), Spain (X tons), Lithuania (X tons) and Belgium (X tons), together reaching 59% of total import. It was distantly followed by the UK (X tons), Italy (X tons) and Russia (X tons), together committing an 18% share of total imports. The following importers - France (X tons), Belarus (X tons), Poland (X tons), the Netherlands (X tons) and Norway (X tons) - together made up 16% of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +8.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and Lithuania ($X) constituted the countries with the highest levels of imports in 2022, together comprising 45% of total imports. Belgium, the UK, Italy, Russia, the Netherlands, France, Poland, Belarus and Norway lagged somewhat behind, together accounting for a further 46%.

Poland, with a CAGR of +5.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2021 when the import price increased by 51%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Netherlands ($X per ton) and Norway ($X per ton), while the UK ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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